Renovated 3-Family Income
204 Eastern Avenue Lynn, MA 01902
204 Eastern Avenue, Lynn, MA, 01902
$1,399,999
For Sale
$1,399,999
Turnkey legal three-family home with updated kitchens, modern finishes, and a finished attic with additional living space.
Property Size3,567 SF
Price / SF$392.49
Days on Market32
Property Features for 204 Eastern Avenue
General Information
- Standard status
- Active
- Size
- 3,567 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1880
Listing agency
Compass
Listed by
Nikki Martin Team
(781) 233-1401
Source
Littlefieldre
Added: Jun 20 Updated: Jul 20 at 7:16PM Checked: Jul 20 at 7:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This fully renovated legal 3-family property offers a turnkey setup with updated, bright interiors and modern finishes. The home includes 7 bedrooms and 5 full baths, along with eat-in kitchens featuring white cabinetry, quartz countertops, and stainless steel appliances. Bathrooms feature oversized showers and a gray-and-white design. Additional space is provided by a finished attic with a bedroom, flex room, full bath, and kitchenette.
Outside, the property is equipped with five maintenance-free composite decks, a fenced yard, updated windows, newly redone walkways, and low-maintenance vinyl siding with stone accents. Ample parking includes a 2-car garage plus additional off-street spaces for up to 5 vehicles.
The layout and improvements are designed for flexible occupancy and straightforward operation, with the three units complemented by the attic’s added room and kitchenette.
Outside, the property is equipped with five maintenance-free composite decks, a fenced yard, updated windows, newly redone walkways, and low-maintenance vinyl siding with stone accents. Ample parking includes a 2-car garage plus additional off-street spaces for up to 5 vehicles.
The layout and improvements are designed for flexible occupancy and straightforward operation, with the three units complemented by the attic’s added room and kitchenette.
Key Highlights
- Fully renovated legal 3‑family home, built in 1880, on the Lynn/Swampscott line.
- 7 bedrooms and 5 full baths with updated units featuring eat‑in kitchens, white cabinetry, quartz countertops, and stainless steel appliances.
- Finished attic adds extra living space with a bedroom, flex room, full bath, and kitchenette.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.2k | $30.60 |
| − Vacancy | −$6.7k | −$1.89 |
| EGI | $102.4k | $28.71 |
| − OpEx | −$30.7k | −$8.61 |
| NOI | $71.7k | $20.10 |
3,567 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$896.1K – $1.19M
NOI $71,691 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$889.9K
$778.7K – $1.04M
NOI $62,294 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,347 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Turnkey legal three-family home with updated kitchens, modern finishes, and a finished attic with additional living space.
Where is this triplex located?
The property is located at 204 Eastern Avenue Lynn, MA.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: Fully renovated legal 3‑family home, built in 1880, on the Lynn/Swampscott line.; 7 bedrooms and 5 full baths with updated units featuring eat‑in kitchens, white cabinetry, quartz countertops, and stainless steel appliances.; Finished attic adds extra living space with a bedroom, flex room, full bath, and kitchenette.
